Your browser is not supported

Your browser is too old. To use this website, please use Chrome or Firefox.

Greater Niagara Chamber of Commerce

Daily Update: June 26, 2023

In this edition:

Will the Bank of Canada hike rates again? This week will decide

Anyone worried about interest rates, economic growth and jobs numbers is bracing for a busy and consequential week. Canadians will be hit by a tsunami of economic data over the next 10 days.

The latest inflation numbers, data on how much stuff Canada’s economy is cranking out and a key reading on the mood of consumers won’t just tell us how the economy has performed through the first half of the year, they’ll set policy decisions that will dictate how the rest of the year will unfold.

“I would say it’s very important,” said RBC economist Carrie Freestone.

Click here to read more.

City of Niagara Falls launches new open data hub

Following nearly a decade of successfully providing Open Data access through the City’s website, a new and enhanced Open Data Hub is being launched where members of the public can discover and use items like spatial data that can be used to make maps, applications (apps) for visualizing the information, tabular data, reports, and live data feeds. For application developers, the data can also be accessed through an Application Programming Interface (API). Applying the Open Government philosophy, new data will be added as they become available.

Click here to read more.

Indigenous Health Services and Reconciliation team unveils artwork

As part of Niagara Health’s continued efforts towards promoting a culturally safe environment, Indigenous artwork was unveiled on Monday, June 26 during an event at the St. Catharines hospital. The original artwork will hang in the St. Catharines Emergency Department (ED) with reproductions at the other hospital sites.

The piece, by Indigenous artist Delbert (JayR) Jonathan, incorporates a depiction of Turtle Island with the medicine wheel in the centre. The medicine wheel is a symbol recognizable to many nations and portrays the importance of balance among mental, emotional, physical and spiritual health.

Click here to read more.

Business Stock Exchange Trading Concepts

Stocks slipped to start the new week Monday as tech stocks fell and investors considered what the weekend’s short-lived challenge to Vladimir Putin by armed mercenaries in Russia means for markets.

The S&P 500 (^GSPC) was down around 0.4%, while the Dow Jones Industrial Average (^DJI) was roughly flat. The tech-heavy Nasdaq Composite (^IXIC) led the way down, dropping over 1%.

Click here to read more.

Algoma fuels domestic product tanker business with $127-million newbuild investment in partnership with Irving Oil

Algoma Central Corporation (“Algoma”) (TSX: ALC), today announced it has placed an order with Hyundai Mipo Shipyard in South Korea to build two 37,000 DWT ice class product tanker vessels for a total investment of $127 million CAD. These new ships will be entered on long-term time charters to Irving Oil under Canadian flag, servicing the energy company’s refinery in Saint John, New Brunswick, with deliveries to ports in Atlantic Canada and the US East Coast.

Click here to read more.

Vineland Growers Co-op doubles space for $100-million sales operation

Vineland Growers Co-operative had a big problem.

The farmer-owned wholesaler and distributor, which packs and sends Niagara fruit to grocery stores across Canada, had become too successful for the Jordan Road location it called home for more than 100 years.

“We had rapid growth. We’d basically outgrown all of our facilities,” said co-op president Mike Ecker at the grand opening of Vineland Growers new Fourth Avenue facility in Jordan Thursday.

In the past six years, the co-op has more than doubled its sales, jumping from $45 million to hitting the $100-million mark for the first time in 2022.

Click here to read more.

Did you know?

1% of Indians control more than 40% of India’s wealth.

Focus on Small Business

Cybersecurity for Small and Medium-Sized Businesses — How to Conduct a Comprehensive Risk Assessment

In today’s digital landscape, cybersecurity has become a critical concern for businesses of all sizes. However, for small and medium-sized businesses (SMBs), the stakes are even higher. Startups often face numerous challenges, with limited budgets being one of the most significant hurdles.

Nevertheless, ignoring cybersecurity risks can have devastating consequences. In this article, we will delve into the importance of cybersecurity for startups, the challenges they face and the significance of conducting a comprehensive risk assessment.

Click here to read more.

Through the Daily Updates, the GNCC aims to deliver important business news in a timely manner. We disseminate all news and information we feel will be important to businesses. Inclusion in the Daily Update is not an endorsement by the GNCC.

Share this: